Futures Close Report 26/01/21

Slow commencement to Brazil soybean harvests with wet weather hampering progress – less than 1% reported complete in comparison to the 4% progress reported at the same point last year, however, worth noting that the rains will be benefiting yield in later sown crops.
US corn prices rally to a two week high on the back of the latest Chinese purchase for 1.36 million tonnes of US corn – the largest reported by USDA since last July.